Dear Grandview Heights Schools’ Families,
Recently, the Grandview Heights Schools Board of Education took unanimous action related to additional annual revenue the district will receive from a revised Grandview Yard school compensation agreement. While the revised agreement is not yet finalized, when the parties (the City of Grandview Heights, the district, and NRI) reach agreement on the terms, the revised agreement will provide additional annual revenue to the Grandview Heights Schools.
It is important to understand a few key points related to this tremendous opportunity.
- Ballot millage would not change even with additional Grandview Yard funds. The additional revenue from a revised agreement would not be available in one lump sum, but rather spread out over approximately 22 years. As a result, the district must still issue the full $55.25 million in bond debt to finance the facility project. Ohio law does not allow the ballot millage to be reduced for a future stream of revenue like the increased compensation the District will receive from the Grandview Yard. Issue 6 is still needed.
- Revenue from the Grandview Yard will NOT cover the cost to renovate and replace our antiquated schools. While the additional funds from the Grandview Yard will substantially reduce the bond rate for taxpayers, Issue 6 is still necessary to fund the critical improvements our facilities need now.
- Additional Grandview Yard revenue would reduce costs to residents. If approved by voters, the board resolution directs the County Auditor to take the additional payments from the Grandview Yard into account when establishing the bond millage for the facilities portion of Issue 6. This means that taxpayers would see a reduced payment for the bond portion of Issue 6 on their tax bill.
- Waiting to approve the bond issue will only costs taxpayers more. Inflation costs for construction continue to rise at a conservative rate of five percent. By delaying Issue 6, the cost to bring our schools up to modern day standards goes up by at least $2.7 million annually. In addition, interest rates are going up. Issue 6 is the most cost-effective way to address the serious needs in our schools and to preserve quality education in our district.
The Grandview Yard is a complicated issue. Please see Frequently Asked Questions related to the Grandview Yard on our website at https://www.ghcsd.org/apps/pages/index.jsp?uREC_ID=1292490&type=d&pREC_ID=1507334
We are aware of the misinformation circulating in the community about the Grandview Yard. This election is too important to not have accurate information. Please contact the district with any questions you may have. You can reach Treasurer Beth Collier at firstname.lastname@example.org or myself at email@example.com. We are happy to answer your questions and provide any facts you may need for this important decision.
Thank you for your continued support of our schools!